Name: Contract Advantage
Price: 100 USD
Author: Great Minds Software

Help Desk

Web and Video Conferencing

Customer Support

Bug  Tracking

Flowchart

Development

Higher Education

Education

Association Management

Business Intelligence (BI)

Collaboration

Data Extraction

Embedded Business Intelligence (BI)

File Sync

Risk Management

Streaming Analytics

Visual Collaboration

Enterprise

Accounting

Budgeting and Forecasting

Crypto Accounting

Loan Origination

Payment Gateway

Payment Orchestration

Finance and Accounting

Applicant Tracking

Background Check

Contractor Management

Corporate Learning Management

Diversity, Equity, and Inclusion (DEI)

HR Compliance

HR Management

Payroll

Recruitment Agency

Talent Intelligence

Talent Management

Workforce Analytics

Workforce Management

Human Resources

Authorization

C/C++ Integrated Development Environments

Cloud Storage

Container Management

Distributed Denial of Service (DDoS) Protection

Fraud Detection

Incident Response

Integration Platform as a Service (iPaaS)

Managed Private Cloud

Network Performance Monitoring

Relational Database Management Systems

Remote Monitoring and Management

Tower Servers

Information Technology

A/B Testing

AI Image Generation

Ad Serving & Retargeting

All-in-One Marketing

Content Management

Conversion Rate Optimization

Email Marketing

Event Registration

Heatmap and Session Recording

Landing Page

Marketing Automation

Personalization Engines

Public Relations (PR)

Retail Media Advertising

SMS Marketing

Sales and Marketing Automation

Social Media Management

Survey & Forms Building

Video

Video Editing

Web Analytics

Marketing

Project Management

Prototyping

Professional Services

Customer Relationship Management (CRM)

Sales Pipeline

Sales

Antivirus

Security

Automotive

Forestry

Vertical-Specific

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Contract Advantage, developed by Great Minds Software, is a contract management software solution designed to streamline and automate the contract management process. According to the vendor, this solution is suitable for businesses of various sizes, including small to large-sized organizations. It caters to a range of industries such as legal firms, procurement departments, healthcare organizations, real estate companies, and managed care providers. With its customizable features and automation capabilities, Contract Advantage aims to provide a tailored solution to meet the specific needs of professionals in these industries.

## Key Features

**Customize Display**: According to the vendor, users can customize the display of Contract Advantage to match specific contract types and rename fields to align with industry terminology.

**Search Extensively**: The vendor claims that Contract Advantage allows users to perform extensive searches on over 400 fields individually or in combination. It also offers the ability to perform full-text searches on attached documents.

**Schedule Alerts**: Users can set important dates within the system to automatically trigger email ADVANTAGEALERTS™ for timely notifications, as stated by the vendor.

**Generate Documents**: Contract Advantage enables users to generate various types of documents, including contracts for signature, form letters, and mass emails, with the aim of streamlining the document generation process.

**Set Security**: The vendor states that Contract Advantage offers multi-layered security measures, including authentication against the Active Directory and control over user rights.

**Track History**: According to the vendor, Contract Advantage provides a detailed History Trail that timestamps actions, allowing users to track changes made to contracts and view before and after values.

**Contract Requests**: The vendor claims that Contract Advantage allows anyone within an organization to submit formal and structured contract requests through the system.

**Approval Workflows**: Contract Advantage enables electronic circulation of contracts, amendments, and task orders for approval, providing a streamlined approval process and visibility into contract status, according to the vendor.

**Digital Signatures**: The vendor states that Contract Advantage supports electronic signatures, automatically filing executed documents and eliminating the need for manual handling.

**Flexibility**: According to the vendor, Contract Advantage allows users to customize the information to be tracked based on contract types and choose the desired level of sophistication and features.

Intuitive User Interface: Several users have praised the product for its easy-to-use interface, indicating that it has been designed with simplicity and user-friendliness in mind. 

Satisfying Features: Many reviewers expressed their satisfaction with the features of the product, suggesting that it meets their requirements and provides the necessary functionality. 

Responsive Customer Support: Users appreciate the company's willingness to work with customers and provide prompt assistance when needed, demonstrating a commitment to customer satisfaction.

Limited customization options: Some users have expressed frustration with the limited customization options available in Contract Advantage. They felt that the software could benefit from more flexibility to tailor it to their specific needs.

Lack of integration with other systems: Several reviewers have mentioned that they encountered difficulties when trying to integrate Contract Advantage with other systems. They found it challenging to streamline their workflow and transfer data seamlessly between different platforms.

Occasional technical glitches: A few customers have reported experiencing occasional technical glitches while using Contract Advantage. These issues include slow performance, freezing, or unexpected system errors. While these problems are not widespread, they can be disruptive and impact user productivity at times.

Contract Advantage has been successfully used by organizations for the past two years to track and manage contracts effectively. Users have found the software to be user-friendly, meeting their needs and streamlining their contract management processes. With its excellent customer service, Contract Advantage has provided outstanding support and tailored the product to individual needs, ensuring a positive experience for customers. One of the standout features of the software is its ability to integrate with other software platforms used by different departments. This integration has resulted in a huge efficiency win, allowing for seamless collaboration and improved productivity. Over its 16-17-year history, Contract Advantage has successfully managed over 11,000 contracts, demonstrating its robust capabilities and reliability. Whether it's managing contracts from the requisition stage or generating reports, users have praised Contract Advantage for its user-friendliness and accessibility. Overall, users have been exceedingly happy with the software's performance and customer service, making it an invaluable tool for efficient contract management.

Basic

INHUBBER

Business

Business Plus

Paperless

Contract Advantage

Contract management software is a program or series of related programs for storing and managing legal agreements such as contracts with vendors, leases and licensing agreements.

Contract Management

Great Minds Software

Contract Authoring

Features related to the contract authoring process.

Contract creation

Includes a document generator and tools for creating new contracts.

Contract templates

Allows users to set up templates or templatize old contracts in order to make new contract creation easier and more consistent.

Clause library/saved fields

Users can save certain fields of a contract for re-use; these may be stored in a template or a clause library.

Integration to CPQ

Integrates to CPQ software so that calculated quotes/configuration details can feed into contracts. This is an important element of automation in the contract authoring process.

PDF generator

Users can generate PDFs of contract documents.

Contract attachments

Users can attach other documents, like invoices, images, meeting minutes, memos, etc, to contracts.

Guided logic

Automated questions (based on company policies and the circumstances of the deal) help with the contract authoring process; this is an example of partial automation.

Contract Collaboration

Features related to collaborating on contracts.

Contract sharing

Users can easily and securely share contracts with internal users and external users. Contracts are accessible.

Contract editing

Contracts can go through multiple drafts and revisions; the software supports multiple versions and version comparison.

Contract merge

Multiple versions of a contract can be merged.

Collaborating on contracts

Internal and external users can collaborate on contracts without changing the text of the contract; this may be done through comments, questions, and/or message board conversations.

MS Word plug-in

Users can make changes to contract language using Microsoft Word.

Approval process

Approval workflows can be configured to streamline and automate the approval process; the approval process is helpful and convenient.

Parallel approvals

Users can set up complex workflows to handle parallel approvals.

Interdepartmental workflows

Users can set up interdepartmental workflows so that contracts can flow between teams in a logical and organized manner.

Contract Monitoring

Features that enable users to monitor the status of contracts.

Contract database

Contracts are stored and organized in a central repository.

VORs

Allows users to send/receive variation order requests and coordinate these with contracts.

Contract search

Users can easily look up contracts within the database.

Contract milestone reminders & alerts

Users can schedule reminders and/or trigger alerts according to contract milestones.

Custom contract reports

Users can create custom reports about the status of contracts, contract timelines, efficiency, and revenue tied to contracts.

Tracking contract status

Users can track the status of a contract as it moves through the approval process and beyond.

Salesforce integration

Integrates to Salesforce so that contracts are tied to contact’s CRM records.

Compliance check

Users can define and enforce complex business rules related to compliance regulations; helps automate or partially automate contract compliance check.

Tools and features to aid in contract management and formation.

Contract Storage

Centralized storage and management of all contracts in one place.

Document Management

Ability to upload, organize, and track changes to contract documents.

Advanced Search and Filtering

Efficient search functionality and advanced filters to quickly locate specific contracts or clause language.

Version Controls

Ability to track and manage different versions of contracts, including changes made and the history of revisions.

Customizable Contract Templates

Pre-defined templates that can be customized for different types of contracts.

Workflow Acceleration

Streamline the contract approval process by automating workflows and notifications.

E-Signatures

Capability to electronically verify user signatures, eliminating the need for physical signatures and enhancing efficiency.

Reminders and Alerts

Automated alerts and reminders for important contract dates, deadlines, and milestones.

Analytics and Reporting

Generate reports and gather insights on contract status, performance, and compliance.

Integration with other Systems

Ability to integrate with other tools, such as CRM or ERP systems, to exchange contract data seamlessly.

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Contract Advantage

Overview

What is Contract Advantage?